Did You Repay Money You Paid Taxes on in a Prior Year? There is a Solution to Provide Tax Relief.
Learn how the Claim of Right doctrine may provide a tax deduction or credit when you repay income reported and taxed in an earlier year.
It’s Hard to Believe: But Found Money Is Taxable
Found money and surprise windfalls can count as taxable income under IRC Section 61, showing how broadly U.S. tax law defines income and why even unexpected cash may have tax implications.
What Income Is Taxable?
Explore surprising taxable income sources like cash sales, online ticket resales, crowdfunding, and more, delving into IRS thresholds and implications.
W-2 or 1099-NEC: Which Form Should Your SMB Use for Which Workers?
Every business must file annual wage reports. But whether to use a W-2 or 1099-NEC depends on which earners are employees & which are independent contractors.
Five Ways to Get Audited
by Alex Franch, Tax Specialist In 2012, Americans filed 145 million individual income tax returns. 1.4 million of those returns will receive some level of examination from the IRS. Here are a few ways to draw … Read More